MIRA INFORM REPORT

 

 

Report Date :

22.06.2012

 

IDENTIFICATION DETAILS

 

Name :

RICHFIELD  EXPORT  CORP.

 

 

Registered Office :

Room 1725-26, 17/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

06.08.1962

 

 

Com. Reg. No.:

00957738-002-01

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer, Exporter and Wholesaler of Cameras & Photographic Equipment, etc.

 

 

No. of Employees :

04

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name

 

RICHFIELD  EXPORT  CORP.

 

 

Company ADDRESS    

 

Room 1725-26, 17/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2522 5225;  2524 4837

FAX:                 2868 5955

E-MAIL:            eahk@hkstar.com

 

 

MANAGEMENT

 

Manager:  Mr. Shankerlal Sureka

 

 

SUMMARY

 

Establishment:                          6th, August, 1962.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   4.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Room 1725-26, 17/F., Star House, 3 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong.

 

Operating Company:-

East Asia Trading Co., Hong Kong.  (Same address)

 

Sister Companies:-

Peoples Marketing Network, Hong Kong.  (Same address)

United Marketing, Hong Kong.  (Same address)

 

 

BUSINESS REGISTRATION NUMBER

 

00957738-002-01

 

 

MANAGEMENT

 

Manager:  Mr. Shankerlal Sureka

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Shankerlal SUREKA

Residential Address:      13E, Apartment, 29 Conduit Road, Hong Kong.

 

 

HISTORY

 

The subject was established on 6th, August, 1962 as a sole proprietorship concern owned by Mr. Shankerlal Sureka under the Hong Kong Business Registration Regulations.

The subject has changed its registered address for many times.  It moved to the present address in April 2007.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Cameras & Photographic Equipment, etc.

 

Employees:                   4.

 

Commodities Imported:   Japan, etc.

 

Markets:                       Japan, Korea, North America, Other Asian Countries, Taiwan, etc.

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, T/T, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Business is profitable.

 

Condition:                      Keeping in a satisfactory manner.

 

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Normal.

 

 

GENERAL

 

Richfield Export Corp. is operated by East Asia Trading Co. [EATC] which is also located at the same operating address.

Established on 10th January, 1960, EATC is a sole proprietorship set up and owned by Mr. Shankerlal Sureka who is an Indian.  Being the manager of the subject, he is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject is trading in the following commodities:-

Digital Cameras, Compact Cameras, Video Cameras, Lenses, Speedlites, Lens Filters, Batteries, other Photographic Equipment, electronic products, etc.

Most of the commodities are imported from Japan.  Prime markets are Japan, South Korea, North America, Taiwan, other Asian Countries, etc.  Business is active and steady.

Besides the subject, EATC now also has had the following subsidiaries located at its operating address:-

Peoples Marketing Network

United Marketing

These two firms are also trading in electronic products.

To our knowledge, EATC has had another trading name known as Universal Watch Co.  This firm is trading in watches with diamonds.

All the firms are chiefly administered by Shankerlal Sureka himself.

As the history of the subject is about fifty years in Hong Kong, on the whole, consider it good for normal business engagements.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.42

UK Pound

1

Rs.88.45

Euro

1

Rs.71.52

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.